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Time of India
3 days ago
- Business
- Time of India
GAIL, TruAlt Bioenergy form joint venture to boost compressed biogas sector
TruAlt Bioenergy , a biofuels producer, on Wednesday said it has entered into a strategic joint venture with GAIL (India) to accelerate the development of India's compressed biogas (CBG) sector. According to the official press release, as part of the agreement, GAIL will acquire a 49 per cent equity stake in Leafiniti Bioenergy (LBPL), a wholly-owned subsidiary of TruAlt. This transaction is subject to the completion of certain conditions and approval from the Department of Investment and Public Asset Management (DIPAM). LBPL has been operating a 10.2 tonnes per day (TPD) press-mud-based CBG plant in Karnataka since 2021. According to the press release, the joint venture will focus on establishing multiple greenfield CBG plants in a phased rollout. The first phase will involve setting up six new state-of-the-art plants, each with a capacity of 12 TPD. These plants will primarily use associated products from sugar mills as feedstock, with a combined annual output of 23,976 tonnes of CBG. 'Together, we are laying the foundation for a decentralised, circular energy economy that uplifts rural livelihoods, transforms agricultural residues into economic value, and delivers measurable carbon reductions,' said Vijay Nirani, Founder & Managing Director of TruAlt Bioenergy. Economic and environmental impact The development of these new facilities is expected to have a significant positive impact on both the economy and the environment. The first phase alone is projected to create between 700 and 1,050 direct and indirect jobs, boosting rural employment and economic activity. In addition to producing clean energy, the plants will also generate valuable agricultural inputs. These include an estimated 83,916 tonnes of Fermented Organic Manure and 403,596 tonnes of Liquid Fermented Organic Manure annually. From an environmental standpoint, the joint venture's initial phase is expected to displace approximately 17,000 tonnes of fossil fuels and avoid 8,000 tonnes of methane emissions each year.
Business Upturn
5 days ago
- Business
- Business Upturn
GAIL to acquire 49% stake in Leafiniti Bioenergy for new compressed bio gas projects
GAIL (India) Limited has entered into a significant agreement to acquire a 49% stake in Leafiniti Bioenergy Private Limited (LBPL), marking a strategic move to expand its presence in the renewable energy sector. The agreement, signed on August 11, 2025, is subject to the completion of certain conditions precedent and approval from the Department of Investment and Public Asset Management (DIPAM). Currently, LBPL is a wholly owned subsidiary of TruAlt Bioenergy Limited (TBL), and once the transaction is complete, TBL and GAIL will hold 51% and 49% stakes respectively. This partnership aims to develop new Compressed Bio Gas (CBG) projects through LBPL, supporting India's growing focus on clean and sustainable energy. As part of the agreement, the board of LBPL will consist of four directors, equally nominated by GAIL and TBL. The chairmanship of the board will rotate every three years between the two shareholders, with GAIL nominating the first chairman. Leadership roles will include a CEO nominated by LBPL and a CFO nominated by GAIL. The agreement grants GAIL the right to participate in any fresh share issuances proportional to its shareholding, along with affirmative voting rights on any changes to the company's share capital structure. Additionally, GAIL has been accorded protective rights such as the Right of First Refusal and Tag Along rights in case TBL decides to sell its equity to a third party. A lock-in period of five years from the closing date, or three years from the commissioning of six CBG projects, whichever is earlier, ensures stability for this partnership. This transaction is not related to any promoter or promoter group companies and has been conducted at arm's length, maintaining transparency and strong corporate governance. The deal underscores GAIL's commitment to diversifying its energy portfolio and investing in sustainable fuel alternatives. By joining hands with LBPL, GAIL aims to contribute to India's renewable energy goals through innovative bioenergy solutions. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
